Neilsoft Ltd, an engineering services and solutions (ER&D) company, plans to raise funds through an IPO consisting of a ₹100 crore fresh issue and an ₹80 lakh offer-for-sale. Proceeds will be used for capital expenditure and corporate purposes.
Neilsoft Ltd, an engineering services firm backed by Fujita Corporation, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company aims to raise funds through a public offering, with a combination of a fresh issue of shares and an offer for sale (OFS). The fresh issue is valued at up to ₹100 crore, while the OFS comprises up to 80 lakh equity shares.
In the Neilsoft IPO, the offer for sale includes several large shareholders, including Rupa Shah and Harishkumar Shah, Netsophy Private Limited, Nishit Shah, and others. The company intends to use ₹69.63 crore from the fresh issue for capital expenditure and general corporate purposes.
The company has set aside 75% of the offer for Qualified Institutional Buyers (QIBs), with 15% allocated to Non-Institutional Investors (NIIs) and 10% to retail individual investors. This diverse allocation ensures that a broad range of investors can participate in the offering.
Equirus Capital and IIFL Capital Services are appointed as the book-running lead managers for the IPO, while Link Intime India will serve as the registrar. The shares are set to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Founded in 1991, Neilsoft Ltd provides a wide range of engineering services, including industrial plant design, architecture, and software development for digital transformation. The company’s revenue grew by 11.96% from ₹291.03 crore in fiscal 2023 to ₹325.85 crore in fiscal 2024. Net profit also saw a 24.05% increase, from ₹46.64 crore in fiscal year 2023 to ₹57.85 crore in fiscal year 2024.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Jan 2, 2025, 2:24 PM IST
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